CFP Board Reports Record CFP Exam Participation in 2024
Among the 10,437 candidates testing this year, 6,763 candidates passed.
The CFP Board announced a record year for its Certified Financial Planner certification exam, with 10,437 candidates testing in 2024, the highest annual total documented to date. Among those who tested, 6,763 candidates passed, up 11% from 2023, which anointed 6,089 new CFP professionals.
The number of test takers has grown steadily since the CFP’s new exam blueprint deployed in March 2022, which shifted some question areas and added others such as the psychology of financial planning.
In addition, the CFP Board reported that pass rates have remained stable since March 2022. First-time test-takers consistently outperformed repeat test-takers.
November 2024 Exam Highlights
The November 2024 CFP certification exam was held from November 6 through 13, with 3,755 candidates participating, 6% of whom tested remotely. According to the CFP, this marked the second-largest turnout for a November exam. The pass rate for the November exam was 62%.
A post-exam survey revealed the primary motivations for pursuing CFP certification:
- 38% cited demonstrating expertise in their roles; and
- 34% sought to distinguish themselves as fiduciaries.
Employer support played a crucial role for many candidates, with 33% reported receiving financial assistance from their workplace during the certification process.
Demographics of the November cohort highlighted the profession’s youth movement:
- 69% of candidates were younger than 40; and
- 39% were younger than 30.
The 10 states with the most test-takers included the country’s four most populous: California, Texas, Florida and New York, with these states accounting for 1,957 test-takers.
“Record-breaking CFP exam participation highlights the growing demand for CFP certification as the standard in financial planning,” CFP Board CEO Kevin Keller said in a statement. “This milestone reflects wide recognition of the value of competent, ethical financial advice. We celebrate the commitment of all those who sat for the exam and welcome these future CFP professionals into our dedicated community.”